A loan shark who “didn’t care” how he got his money after charging 100% interest on short-term loans has been ordered to pay back his ill-gotten gains. Alan Hayden, 54, from West Derby, targeted vulnerable people in an illegal money lending scheme, which he ran between 2021 and 2022.
He admitted running an unlawful money lending business and was jailed for 10 months at Liverpool Crown Court on July 4 2023. His case returned to the court on Wednesday, July 23, for a proceeds of crime hearing, a legal process used to recover assets obtained through criminal activities.
It was heard that Hayden, who was described as a “Jekyll and Hyde” character by one of his victims, had benefited from his illegal money lending to the tune of £134,134.
He was given a confiscation order for £50,000 (the total of his available assets), and was ordered to pay the sum within three months, as it relies upon the sale of three vehicles at auction. Failure to pay the order means he faces a default sentence of an extra eight months in prison.
He was also told to pay costs of £1,000.
Hayden’s case was prosecuted by the England Illegal Money Lending Team (IMLT), in partnership with Liverpool City Council Trading Standards and Merseyside Police in 2023.
At the time, some of Hayden’s borrowers told the court “he didn’t care how we got it, he wanted paying”, and said he “has this habit of sucking you in”.
They also said he threatened to take a taxi driver off the road and how, when they started to struggle with repayments, they “saw the other side” of him.
Tony Quigley, head of the England Illegal Money Lending Team said: “This is a great result for the victims who came forward and it should give communities in Liverpool the confidence that we will help and continue to bring these loan sharks to justice.
“We would encourage anyone with information about illegal money lending activity to speak to us via the confidential hotline, so we can take action and remove unscrupulous lenders from our communities. Our team are determined to make sure these offenders are caught and will continue to protect our residents.
“Anyone with concerns about illegal money lending can contact the Illegal Money Lending Team 24/7 Helpline in confidence on 0300 555 2222 or access support online at http://www.stoploansharks.co.uk. Live Chat is available on the website between 9am and 5pm, Monday to Friday.”
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